Italy’s major energy company Eni announced it is considering taking part in Iran’s oil and gas projects after the Ministry of Petroleum unveiled its new contract models last week in Tehran, Agi news agency reported.

‘We must study them and discuss them with the Iranian counterpart. An in-depth study is appropriate, the company’s CEO Claudio Descalzi said at a conference of Confindustria.

‘We need to fully understand the new contracts because they have just been presented, and they must be linked to the fields. These things must be put together and we have to understand about the guarantees.’

‘The sanctions are still active…but we have to learn more about the possibilities. There are many questions to be answered,’ he added regarding a possible return to Iran in 2016.

‘Until the situation is completely defined, since we are investing billions, I prefer to keep this money in our pocket, especially in light of low oil prices,’ Descalzi said.